Advisors Asset Management Inc. Sells 72,442 Shares of Gerdau S.A. (NYSE:GGB)

Advisors Asset Management Inc. reduced its position in Gerdau S.A. (NYSE:GGB) by 29.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 171,529 shares of the basic materials company’s stock after selling 72,442 shares during the quarter. Advisors Asset Management Inc.’s holdings in Gerdau were worth $600,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GGB. Blue Trust Inc. grew its holdings in shares of Gerdau by 132.8% during the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 4,952 shares during the last quarter. Insight 2811 Inc. bought a new stake in shares of Gerdau during the 2nd quarter valued at approximately $36,000. Wedbush Securities Inc. bought a new stake in shares of Gerdau during the 2nd quarter valued at approximately $38,000. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Gerdau during the 2nd quarter valued at approximately $46,000. Finally, MQS Management LLC bought a new stake in shares of Gerdau during the 3rd quarter valued at approximately $56,000. 1.49% of the stock is owned by institutional investors.

Gerdau Trading Down 0.6 %

Shares of Gerdau stock opened at $3.41 on Thursday. The firm has a market capitalization of $7.09 billion, a PE ratio of 7.44 and a beta of 1.75. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $3.34 and its 200 day moving average is $3.32. Gerdau S.A. has a 1 year low of $2.92 and a 1 year high of $4.10.

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, November 21st will be issued a dividend of $0.0528 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a dividend yield of 6.19%. Gerdau’s payout ratio is 43.64%.

Gerdau Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.